Charleston Seniors Housing Corporation
Charleston Seniors Housing Corporation consistently operates near break-even with zero executive compensation and significantly reduced liabilities over the past decade.
EIN: 10382889 · Bangor, ME · NTEE: L21Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $225K |
| Total Expenses | $200K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $200,000 |
| Net Assets | $238K |
| Transparency Score | 92/100 |
Is Charleston Seniors Housing Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Charleston Seniors Housing Corporation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Charleston Seniors Housing Corporation
Charleston Seniors Housing Corporation (EIN: 10382889) is a nonprofit organization based in Bangor, ME, classified under NTEE code L21Z. The organization reported total revenue of $225K and total assets of $325K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Charleston Seniors Housing Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Charleston Seniors Housing Corporation is a small nonprofit that has been operating for 44 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 1.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $200K |
| Total Expenses | $200K |
| Surplus / Deficit | +$670 |
| Total Assets | $343K |
| Total Liabilities | $104K |
| Net Assets | $238K |
| Operating Margin | 0.3% |
| Debt-to-Asset Ratio | 30.5% |
| Months of Reserves | 20.6 months |
Financial Health Grade: A
In 2023, Charleston Seniors Housing Corporation reported a surplus of $670 with revenue exceeding expenses, holds 20.6 months of operating reserves (strong position), has a debt-to-asset ratio of 30.5% (moderate leverage).
Financial Trends
Over 14 years of filings (2010–2023), Charleston Seniors Housing Corporation's revenue has grown at a compound annual growth rate (CAGR) of 1.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +0.2% | +8.1% | -4.6% |
| 2022 | -2.1% | +10.8% | -0.6% |
| 2021 | +3.2% | +4.5% | -1.6% |
| 2020 | +4.6% | -8.6% | -3.5% |
| 2019 | -0.8% | +13.0% | -4.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1982 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Charleston Seniors Housing Corporation with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Charleston Seniors Housing Corporation allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $670, with revenue exceeding expenses.
- Debt-to-asset ratio: 30.5%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no funds are allocated to officer salaries, which is highly commendable for an organization of its size with revenues around $200,000 annually.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Charleston Seniors Housing Corporation's IRS 990 filings:
- Gradual decline in total assets over the past decade (from $407,962 in 2014 to $342,633 in 2023).
Strengths
The following positive indicators were identified for Charleston Seniors Housing Corporation:
- Consistent reporting of 0% officer compensation across all filings.
- Significant reduction in liabilities over the past decade (from $376,274 in 2014 to $104,381 in 2023).
- Stable revenue generation consistently covering expenses.
- Long history of IRS 990 filings, indicating transparency and compliance.
Frequently Asked Questions about Charleston Seniors Housing Corporation
Is Charleston Seniors Housing Corporation a legitimate charity?
Charleston Seniors Housing Corporation (EIN: 10382889) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 92/100. It has 14 years of IRS 990 filings on record. Total revenue: $225K. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Charleston Seniors Housing Corporation spend its money?
Charleston Seniors Housing Corporation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Charleston Seniors Housing Corporation tax-deductible?
Charleston Seniors Housing Corporation is registered as a tax-exempt nonprofit (EIN: 10382889). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Charleston Seniors Housing Corporation CEO make?
Charleston Seniors Housing Corporation's highest-compensated officer earns $200,000 annually. The organization reported $225K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Charleston Seniors Housing Corporation compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Charleston Seniors Housing Corporation is above average for NTEE category L21Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Charleston Seniors Housing Corporation located?
Charleston Seniors Housing Corporation is headquartered in Bangor, Maine and files with the IRS under EIN 10382889. It is classified under NTEE code L21Z.
How many years of IRS 990 filings does Charleston Seniors Housing Corporation have?
Charleston Seniors Housing Corporation has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $225K in total revenue.
Is Charleston Seniors Housing Corporation a good charity?
Based on the provided data, Charleston Seniors Housing Corporation appears to be a very good charity. It consistently operates efficiently, has significantly reduced its liabilities, and reports 0% executive compensation, indicating a strong commitment to its mission.
How has the organization's financial health changed over time?
The organization's financial health has improved significantly, primarily due to a substantial reduction in liabilities from $376,274 in 2014 to $104,381 in 2023, even as assets have slightly decreased. This indicates a stronger balance sheet and reduced financial risk.
What is the trend in assets and liabilities?
Assets have shown a gradual decline from $407,962 in 2014 to $342,633 in 2023. In contrast, liabilities have seen a significant and positive downward trend, decreasing from $376,274 in 2014 to $104,381 in 2023.
Filing History
IRS 990 filing history for Charleston Seniors Housing Corporation showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Charleston Seniors Housing Corporation's revenue has grown by 18.9%, moving from $168K to $200K. Total assets decreased by 15.1% over the same period, from $404K to $343K. Total functional expenses rose by 32.7%, from $150K to $200K. In its most recent filing year (2023), Charleston Seniors Housing Corporation reported a surplus of $670, with revenue exceeding expenses. The organization holds $104K in liabilities against $343K in assets (debt-to-asset ratio: 30.5%), resulting in net assets of $238K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $200K | $200K | $343K | $104K | — | — |
| 2022 | $200K | $185K | $359K | $121K | — | — |
| 2021 | $204K | $167K | $361K | $139K | — | View 990 |
| 2020 | $198K | $159K | $367K | $182K | — | — |
| 2019 | $189K | $174K | $380K | $234K | — | View 990 |
| 2018 | $191K | $154K | $396K | $264K | — | View 990 |
| 2017 | $182K | $145K | $382K | $286K | — | View 990 |
| 2016 | $184K | $173K | $384K | $326K | — | View 990 |
| 2015 | $169K | $154K | $396K | $348K | — | View 990 |
| 2014 | $181K | $154K | $408K | $376K | — | View 990 |
| 2013 | $181K | $151K | $400K | $395K | — | View 990 |
| 2012 | $179K | $153K | $392K | $416K | — | View 990 |
| 2011 | $171K | $168K | $387K | $438K | — | View 990 |
| 2010 | $168K | $150K | $404K | $459K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $200K, expenses of $200K, and assets of $343K (revenue +0.2% year-over-year).
- 2022: Revenue of $200K, expenses of $185K, and assets of $359K (revenue -2.1% year-over-year).
- 2021: Revenue of $204K, expenses of $167K, and assets of $361K (revenue +3.2% year-over-year).
- 2020: Revenue of $198K, expenses of $159K, and assets of $367K (revenue +4.6% year-over-year).
- 2019: Revenue of $189K, expenses of $174K, and assets of $380K (revenue -0.8% year-over-year).
- 2018: Revenue of $191K, expenses of $154K, and assets of $396K (revenue +4.6% year-over-year).
- 2017: Revenue of $182K, expenses of $145K, and assets of $382K (revenue -0.8% year-over-year).
- 2016: Revenue of $184K, expenses of $173K, and assets of $384K (revenue +8.5% year-over-year).
- 2015: Revenue of $169K, expenses of $154K, and assets of $396K (revenue -6.4% year-over-year).
- 2014: Revenue of $181K, expenses of $154K, and assets of $408K (revenue +0.2% year-over-year).
- 2013: Revenue of $181K, expenses of $151K, and assets of $400K (revenue +0.7% year-over-year).
- 2012: Revenue of $179K, expenses of $153K, and assets of $392K (revenue +4.6% year-over-year).
- 2011: Revenue of $171K, expenses of $168K, and assets of $387K (revenue +1.9% year-over-year).
- 2010: Revenue of $168K, expenses of $150K, and assets of $404K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Charleston Seniors Housing Corporation:
Data Sources and Methodology
This transparency report for Charleston Seniors Housing Corporation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.